The Venice AI token achieved a valuation of $1.0 billion within hours of its debut, and Binance initiated futures trading despite the 40% decline.
A day after its launch, the Venice AI token (VVV) is experiencing significant selling pressure, resulting in a price decline of over 40% today. Within hours of its introduction, the VVV airdrop generated considerable market buzz. It achieved a fully diluted valuation of over $1.0 billion. The VVV price is currently trading at $10.69, a significant decrease from its previous high of $18. The daily trading volume has increased by 114% to $136.1 million. Additionally, Binance, a cryptocurrency exchange, has introduced VVVUSDT futures trading contracts on its platform.
The Venice AI Token is the center of attention
The Venice AI token’s recent introduction has generated substantial interest. Both investors and traders have expressed interest in VVV due to its rapid market capitalization expansion, forthcoming airdrop announcements, and listings on numerous exchanges.
A Bitcoin advocate, Eric Voorhees, has developed Venice AI, a privacy-focused AI platform. The DeepSeek model has been criticized due to concerns that it accumulates user data and transmits it to China. Nevertheless, Voorhees asserted, “Nothing is happening when you utilize DeepSeek through the Venice AI app.”
Yesterday, the Venice AI token airdrop distributed 50% of the VVV token supply. It rewarded early platform adopters of the AI community protocol. The platform developers announced earlier this week that individuals who acquire and invest in VVV will have access to its API for private and uncensored generative text, images, and code, as well as the ability to utilize AI models like the recently launched DeepSeek R-1, for free and on an ongoing basis.
VVV Futures are listed on Binance
On January 29, 2025, Binance Futures will expand its trading options by introducing the VVVUSDT Perpetual Contract. The new contract will offer consumers more trading flexibility by offering up to 25x leverage.
The VVVUSDT perpetual contract will have a maximal funding rate of +2.00% / -2.00% at launch. In addition, Binance will allow users to trade the contract using multiple margin assets, such as BTC, through the Multi-Assets Mode functionality. Nevertheless, this will be contingent upon the availability of appropriate haircuts haircuts.
Can the price of VVV rebound from this point?
The VVV price plummeted by 40% amid today’s broader crypto market selloff, trading just above $10. Similarly, the fair diluted valuation (FDV) has plummeted from $1.65 billion to $1.02 billion.
Bitecorn, a crypto analyst, posits that the recent price movement of VVV is being driven by market makers who are deliberately attempting to lower prices. Bitecorn posits that accumulation precedes a potential upward breakout, which could invalidate artificial bearish patterns and liquidate shorts. Three distinct descending channels indicate this.
Despite the current price suppression, the analyst emphasized their long-term bullish outlook for the Venice AI token, stating, “I am confident in this setup and am holding spot positions, anticipating a significant move higher eventually.”
